First Financial Credit Union

FIRST FINANCIAL CREDIT UNION

BOARD OF DIRECTORS

APPLICATION PACKET

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THANK YOU FOR EXPRESSING AN INTEREST IN SERVING ON THE FIRST FINANCIAL CREDIT UNION BOARD OF DIRECTORS.

Please review the Nominating Committee Information & Board of Directors Application Packet. Before February 1st of the year of the election, please submit the following items to: Nominating Committee, First Financial Credit Union 2942 W. Peterson Ave. Chicago, ILL. 60659

•Resume and Biography (for our Annual Meeting, in the event your name is accepted into nomination)

•Board of Directors Application

•Areas of Expertise/Experience Assessment

•Skill/Capability Assessment

•Signed Disclosure and Agreement

The Nominating Committee will send you an acknowledgment letter and may interview potential candidates for further information and assessment of their skills and experience. The Nominating Committee typically completes its selection by February 15th and informs potential candidates of their decision.

TO SERVE AS A DIRECTOR OF FIRST FINANCIAL CREDIT UNION, YOU MUST MEET THE FOLLOWING MINIMUM ELIGIBILITY REQUIREMENTS:

•Be 18 years of age or older.

•Be a member of First Financial Credit Union for more than one year.

•Be a member in good standing of First Financial Credit Union.

•Qualify for bonding with the credit union’s fidelity bond carrier.

•Not be involved in a lawsuit against First Financial Credit Union.

•Never had a judgment issued against you in a civil action based upon grounds of fraud, deceit or misrepresentation.

•Never caused this credit union to suffer a financial loss and have no financial obligations to any institution or company extending credit which is or has been delinquent more than two consecutive monthly payments at any time during the past five years.

•Never been removed from office by any regulatory agency while acting as an officer, employee, consultant, or representative of any financial institution.

•Never been personally subject to an operating directive for cause while serving as an officer, director, or senior executive of any financial institution.

•Never caused or participated in an activity that resulted in the suspension or revocation of a financial institution’s certificate of incorporation, or authority or license to do business.

•Have no criminal record, no felony convictions or pending felony charges.

•Be free of any real or perceived conflict of interest that might reasonably be expected to prevent you from acting in the best interests of the credit union.

•Authorize and give approval to obtain a criminal background check, credit check and employment information.

•Complete an Application, Areas of Expertise/Experience Assessment, Skill/Capability Assessment, and a Disclosure Agreement and submit to the Nominating Committee by February 1st of the year of the election.

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FIRST FINANCIAL CREDIT UNION

NOMINATING COMMITTEE INFORMATION AND

BOARD OF DIRECTORS APPLICATION PACKET

Credit Unions are not- for- profit cooperatives owned by their members, with a volunteer Board of Directors who oversee the operations. This unique philosophy is what sets credit unions apart from other financial institutions.

The Nominating Committee is appointed by the Board of Directors to recruit qualified candidates and is made up of Directors who will not be standing for re-election in the upcoming year. The Board tasks the Nominating Committee with assessing that all candidates meet the minimum qualifications and can be ‘recommended’ to the membership as meeting the criteria of skills, knowledge, experience and attributes required of a Director and necessary to strengthen the existing Board. By February 15th of each year, the Nominating Committee will nominate at least one member for each board vacancy, including any unexpired term, for which elections are being held. At the Credit Union’s Annual Meeting, Board Members are elected to serve a three year term.

The Board of Directors set policy and direct Management in the overall operation of the Credit Union. In fulfilling its fiduciary duties, the Board provides oversight, due diligence, and strategic direction. It is essential that the Directors have the skills, qualifications and expertise to carry out these responsibilities. In general, Directors must have the ability to act in the best interest of the credit union, to operate as a team at the Board level and to be able to speak with one voice once a decision has been made.

Board Members will be nominated based on a demonstrated record of possessing the qualifications and competencies necessary for effective governance and leadership and every prospective board member should have the ability and be nominated based on the ability to serve, one day, as Chairperson.

ATTRIBUTES

First Financial Credit Union expects each Board Member have the willingness and time to serve. They must also possess personal integrity, the highest ethical standards, objectivity, the ability to act without a real or perceived conflict of interest and the ability to work productively with others.

EXPERIENCE

Because governance responsibilities are significant, Board Members must bring a high level of competency and experience to the job. They must possess the capabilities to exercise leadership, teamwork/consensus-building, systems thinking, financial skills and sound judgment on difficult and complex matters that come before the Board. They must have a core knowledge of the cooperative financial sector and the concepts, principles and values of the cooperative environment, have the ability to assess the implications of financial statements and auditor’s reports, have the ability to bring a business perspective to Board deliberations, have the ability to critically assess business strategies and operations, and have an understanding of corporate governance and the fiduciary duties and responsibilities of both the Board of Directors and of individual Directors.

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APPLICATION FOR THE BOARD OF DIRECTORS
Name: ______
First Financial Credit Union Member Number: / ______
For How Many Years: / ______
Address: / ______
City: ______State: ______Zip code: ______
Home Phone: / (______)______
Cell Phone: / (______)______
Personal E-mail Address: ______
Current Employer: / ______
Current Position: / ______
Address: / ______
City: / ______
State: Zip: / ______
Work Phone: / (______)______
Work E-mail Address: / ______
Previous Employers Information and Reason for Leaving: Please / include / this
information on the resume that you submit.
Educational Background and Field of Study: / Please include this / information on / the
resume that you submit.

Why do you wish to serve on the Board? ______

______

Return the completed Areas of Expertise/Experience Assessment, Skill/Capability Assessment, Disclosure & Agreement and this Board of Directors Application Form, along with your resume and biography, by February 1st.

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AREAS OF EXPERTISE / EXPERIENCE ASSESSMENT

Name: ______

Please indicate your area(s) of expertise/experience in any of the following or other area which you believe would be beneficial as a Board member of the Credit Union. Such as Other Board Experience, Financial Mgmt., Strategic Planning, Regulator Environment, IT, Legal, Human Resources etc.

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SKILL / CAPABILITY ASSESSMENT

Name: ______

First Financial Credit Union expects that each Director will bring to the Board a certain level of knowledge and experience, demonstrate certain attributes, and adhere to certain principles. The following questions will help you to assess the extent to which you meet these expectations. Please indicate yes or no in the space provided.

Do you meet the Board Candidate’s Minimum Eligibility Requirements?

To the best of your knowledge, are you free of any conflict of interest?

Do you have sufficient time and energy to devote to the performance of duties as a member of the Board of Directors?

Do you have good oral and written communication skills?

In your personal and professional dealings, do you demonstrate integrity, high ethical standards and respect of privacy and confidentiality?

Are you willing to assume the responsibilities associated with the role of Director?

Are you financially literate (i.e. able to read and understand financial statements and financial reports, and assess the implications of these documents?)

Do you have experience serving on boards or committees of organizations that have large budgets and make complex decisions?

Can you distinguish between the Board’s role and Management’s role?

Do you have experience as the Chair of a Board or a Committee that follows a formal ‘Rules of Order’ format?

Can you recognize and assess business risks and strategic opportunities?

Do you demonstrate the ability to think, act and speak independently and with conviction and confidence?

Do you have experience demonstrating that you can conceptualize and think strategically and that you possess good problem solving and interpersonal skills?

Do you have access to a computer, printer and the Internet?

____

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DISCLOSURES AND AGREEMENT

•It is important that potential candidates understand that there is a risk of liability associated with acting as a credit union officer or director. The risk also involves a potential personal liability that could include recovery from the directors themselves

(personally) rather than or in addition to the liability of the credit union.

•The application information is confidential and will stay at First Financial Credit Union. If you request, the credit union will tell you the name and address of any credit bureau from which it received a credit report on you.

•If you are selected as a candidate, you may be required to attend a formal interview with the Nominating Committee. The names and addresses of the Board of Directors are furnished to regulators and may be a matter of public record.

•Each director is expected to prepare for and attend regular monthly board meetings and the annual membership meeting. In addition, planning sessions or other board events may require attendance.

•Non-adherence to the Board and Nominating Committee Information may result in a candidate’s disqualification.

•Non-adherence to the Policies and Procedures of First Financial Credit Union may result in a director’s removal.

•It is the intent of First Financial Credit Union to do a background check on all potential candidates. By signing the disclosure below, you give your consent to a criminal background check, as well as approval to obtain employment information and credit reports in connection with this application and review.

Please review and complete the following:

I affirm that I have read and reviewed the First Financial Credit Union Nominating Committee Information and Board of Directors Application Packet. I do meet the qualifications required. I have completed the Application, Areas of Expertise/Experience Assessment, Skill/Capability Assessment, and understand the above Disclosures and Agreement. I do consent and give my authorization for you to obtain employment information, a criminal background check and credit reports for your review and consideration in determining my qualifications for candidacy on the Board of Directors at First Financial Credit Union.

My signature below verifies my understanding and acceptance of these statements.

Name (please print):______

______

SignatureDate

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